Morning Report: Home Prices rise

Vital Statistics:

 

Last Change
S&P futures 3221 -4.25
Oil (WTI) 61.17 -0.44
10 year government bond yield 1.90%
30 year fixed rate mortgage 3.95%

 

Stocks are lower as we put 2019 into the books. Bonds and MBS are up.

 

The bond markets close at 2:00 pm this afternoon. Most warehouse banks will stop doing wires at that time.

 

It looks like we have a trade deal with China, which should take trade off the front burner for a while.

 

Pending home sales increased 1.2% in November, according to NAR. “Despite the insufficient level of inventory, pending home contracts still increased in November,” said Lawrence Yun, NAR’s chief economist, noting that housing inventory has been in decline for six straight months dating back to June 2019. “The favorable conditions are expected throughout 2020 as well, but supply is not yet meeting the healthy demand.”

 

House prices rose 0.2% MOM and 5% YOY according to the FHFA House Price Index. Separately, the Case-Shiller index rose 0.4% MOM and 2.2% YOY.

 

Wishing you all a prosperous new year. Here is to the roaring 20s

18 Responses

  1. Live long and prosper, y’all.

    Like

  2. Rise of Skywalker was fine. My 10 year old loved it. and it’s been fun to watch these with him.

    Happy New Year, everyone.

    Like

  3. I’m a little late to the party, nothing new there, but Happy New Year everyone! Hope we all have an amazing 2020. No resolutions here for me to fail but I am hoping to keep my physical activities going strong into the next decade……LOL

    Liked by 1 person

  4. Something off the beaten path that looks ripe for antitrust enforcement:

    “But I’m not a lawyer. I’m an agent.”

    https://davidsimon.com/but-im-not-a-lawyer-im-an-agent/

    “Big agencies and studios have a lock on Hollywood. It’s high time to apply antitrust law.

    By Steven Pearlstein”

    https://www.washingtonpost.com/business/economy/big-agencies-and-studios-have-a-lock-on-hollywood-its-high-time-to-apply-antitrust-law/2019/09/06/7337cfca-ce6f-11e9-8c1c-7c8ee785b855_story.html

    If Trump was smart, he’d go after it. Instead it looks like he’s on the side of the agents.

    https://www.hollywoodreporter.com/thr-esq/trumps-doj-picks-side-hollywoods-writers-agents-war-1258214

    Like

  5. NoVA, I presume you are familiar with this.

    “The one surprising thing the Trump administration got right on health care

    By Steven Pearlstein
    Dec. 5, 2019 at 2:51 p.m. EST”

    https://www.washingtonpost.com/business/economy/the-one-surprising-thing-the-trump-administration-got-right-on-health-care/2019/12/05/99204c10-15ed-11ea-a659-7d69641c6ff7_story.html

    Like

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